Qrops Pensions South Africa
Ex-pats and international workers who regularly make two way trips to South Africa and the United Kingdom would benefit greatly from a tax effective qualifying recognised overseas pension scheme or QROPS.
These are offshore pensions that are regulated by the taxman in the UK. For those people who are actually living in South Africa or for those who are thinking about relocating there and maybe a little unsure of your pension options, help is now at hand via a specialist team at the Qrops Help Centre
For South African residents there is a dedicated team of experts who will undoubtedly offer you their high level of knowledge and excellent services. This is how a QROPS can help you.
Who Will Benefit?
- Ex-pats who may live or work in South Africa
- Residents of the UK who are planning to move or retire to South Africa within a six month time line
- South African people who have funds in a United Kingdom pension scheme
- Anybody who has a UK pension
Reasons Why They Benefit
A QROPS can:
- Consolidate UK pensions within one scheme
- Offer investment options that are flexible
- Remove unused UK pension funds from Inheritance Tax when the member passes over
- Offer at least a 30% tax free lump sum drawdown upon retirement as well as gross benefit payments
- Be paid in major currencies
Best Places Where QROPS Are Based
Financial services providers in South Africa host many QROPS schemes but this does not mean the pension has to “live” in the place. It is important to match up individual circumstances, residency and solutions as not all QROPS are the same.
Guernsey and the Isle of Man are included in popular QROPS jurisdictions for investors from South Africa, this is especially beneficial as both countries are in the same time zone as South Africa and share many historical ties with Britain.
Almost fifty other countries in the world offer many products related to QROPS destinations.